VNET Group (NASDAQ:VNET) Shares Down 5.5%

VNET Group, Inc. (NASDAQ:VNETGet Free Report)’s stock price traded down 5.5% on Friday . The stock traded as low as $2.24 and last traded at $2.24. 143,629 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,667,444 shares. The stock had previously closed at $2.37.

Analyst Upgrades and Downgrades

VNET has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Bank of America upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $3.90 to $2.70 in a research report on Tuesday, March 19th.

View Our Latest Analysis on VNET Group

VNET Group Trading Down 5.5 %

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market cap of $576.58 million, a PE ratio of -0.85 and a beta of -0.33. The stock has a 50-day moving average of $1.88 and a 200 day moving average of $2.04.

VNET Group (NASDAQ:VNETGet Free Report) last posted its quarterly earnings data on Wednesday, March 27th. The information technology services provider reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.50). VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%. The firm had revenue of $267.40 million during the quarter, compared to analyst estimates of $289.41 million.

Hedge Funds Weigh In On VNET Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of VNET Group in the 4th quarter valued at approximately $2,021,000. AI Squared Management Ltd purchased a new stake in VNET Group during the fourth quarter worth $893,000. Maso Capital Partners Ltd boosted its position in VNET Group by 15.6% during the first quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock worth $2,873,000 after purchasing an additional 250,000 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in VNET Group during the first quarter worth $328,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in VNET Group by 14.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,525,707 shares of the information technology services provider’s stock worth $4,379,000 after purchasing an additional 188,593 shares in the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

VNET Group Company Profile

(Get Free Report)

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.

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